By: Omar Silva, NP Staff Writer

Belize City, Sunday 26th March 2023

Prime Minister of Belize, John Briceño, delivered the closing remarks for the 2023-2024 budget debate on Friday, highlighting his administration's accomplishments in rebuilding Belize from the devastation left by the UDP government from 2008-2020.   In his speech, Briceño emphasized the economic growth achieved under his administration and compared it to the shortfalls of the United Democratic Party during the Barrow administration.

Briceño claimed that the GDP growth under the UDP was not as high as they had claimed, with the IMF concluding that their growth was between 1.5% and 2% over their thirteen years in office.

 In contrast, the PUP growth during the past two years averaged 13.8%. Briceño also cited net foreign direct investment flows of $250 million in 2021 and $265 million last year, with expectations to meet or exceed those levels this year.

He noted that foreign direct investment under the PUP in 2022 was 45% more than the foreign direct investment under the UDP in 2019, despite claims from the Leader of the Opposition, Moses “Shyne” Barrow, that there was a loss of confidence in investing in Belize.

Briceño also addressed some of the points made during Barrow's speech, claiming that Barrow was unprepared with ill-conceived pronouncements, resulting in a lackluster performance. He also took jabs at Barrow's claim that too much money was being allotted to the Ministry of Infrastructure Development and Housing, stating that the reason for the budget allocation was to complete projects started under the previous administration but were not fully funded nor finished.

While Briceño highlighted his administration's accomplishments and initiatives, including completing works that were started under the previous administration, the article does not provide further details on economic indicators such as employment rates, poverty rates, and income levels.

Overall, Briceño's speech emphasized his administration's progress in rebuilding Belize and achieving economic growth. However, it remains to be seen how this growth translates into economic prosperity for the masses.